Hong Kong moves to create regional hub for insurance-linked securities

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NEW YORK(Thomson Reuters Regulatory Intelligence) – *To read more by the Thomson Reuters Regulatory Intelligence team click here: bit.ly/TR-RegIntel

Chinese 100 yuan banknotes and a 100 dollar Hong Kong banknote are seen in a picture illustration in Beijing, China, January 21, 2016.

Hong Kong is on track to soon join the UK and Singapore as newly minted hubs for insurance-linked securities. This is a field long dominated by offshore jurisdictions such as Bermuda.

The Hong Kong government introduced in March the Insurance (Amendment) Bill 2020[here]. The bill provides a regulatory framework for insurers to transfer risk to the capital markets by issuing insurance-linked securities in Hong Kong through special purpose insurers, or SPIs. Special purpose insurers are essentially the same as the dedicated special purpose vehicles that are authorized in other jurisdictions to issue insurance-linked securities, or ILSs.

There is no precise timeline of passage of the bill, but a

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Helped by fiscal boost, German economy seen rebounding: Bundesbank

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FRANKFURT (Reuters) – The German economy is rebounding and may well continue to do so in the second half of the year, supported by the government’s fiscal stimulus measures taken in response to the coronavirus outbreak, the Bundesbank said on Monday.



a man standing next to a car: FILE PHOTO: VW re-starts Europe's largest car factory after coronavirus shutdown


© Reuters/POOL
FILE PHOTO: VW re-starts Europe’s largest car factory after coronavirus shutdown



a close up of a piece of paper: The new 100 Euro banknote is presented at the headquarters of Germany's Federal reserve Bundesbank in Frankfurt


© Reuters/KAI PFAFFENBACH
The new 100 Euro banknote is presented at the headquarters of Germany’s Federal reserve Bundesbank in Frankfurt

“In the second half of the year, the economic recovery could continue,” the German central bank said in its monthly report. “The recent stimulus package will also contribute to that.”

The German central bank also said it expected the pandemic-related global slowdown in trade to bring down the country’s oversized current account surplus.

This has been the target of criticism both within the European Union and by Donald Trump’s U.S. administration for causing macro-economic imbalances.

The

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iAnthus Reports Fiscal 2019 Financial Results and Provides Additional Business Updates

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NEW YORK and TORONTO, July 31, 2020 /PRNewswire/ – iAnthus Capital Holdings, Inc. (“iAnthus” or the “Company”) (CSE: IAN) (OTCQX: ITHUF), which owns, operates, and partners with regulated cannabis operations across the United States, reports its financial results for the year ended December 31, 2019. The Company’s Financial Statements for the year ended December 31, 2019 and the related Management’s Discussion & Analysis can be accessed on the Company’s SEDAR profile at www.sedar.com and on the Company’s website.

Additional Business Updates

Mutual Termination of Acquisition

The Company and WSCC, Inc. (“Sierra Well”) announce the mutual termination of the merger agreement previously announced on September 19, 2019. As a result of the prolonged timeline to achieve the necessary conditions to close combined with the adverse market conditions surrounding the industry and broader economy, the Company and Sierra Well agreed that it was in the best of interest

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